Agt Foods Invests In Canadian Pasta Brand Chickapea

Credit: Chickapea/Dropbox.

Food ingredients supplier AGT Foods has invested successful Canadian pasta institution Chickapea. 

AGT Foods led a C$4.3m ($3.1m) backing information successful Chickapea that included FCC Capital, nan finance limb of Farm Credit Canada.  

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Existing backer InvestEco besides took part, extending an engagement successful nan pasta replacement patient that began successful 2019. 

Ontario-based Chickapea said nan proceeds will beryllium directed toward marketing, merchandise improvement and widening its distribution crossed North America.  

Founded successful 2015 by Shelby Taylor, nan marque sells integrated dried pasta made from chickpeas and yellowish peas successful formats including penne, spaghetti, lasagne, spirals and elbows. 

Taylor said nan institution was “thrilled” to person received nan finance from AGT Foods, FCC, and InvestEco.

She added: “Their business will beryllium instrumental arsenic we proceed to standard our brand, gathering increasing user demand, expanding our unit beingness and exploring caller channels.” 

As portion of nan transaction, Murad Al-Katib, president and CEO of AGT Foods, has joined Chickapea’s committee of directors.  

Al-Katib said Chickapea has “immense potential”, adding: “AGT is excited to partner pinch Chickapea, and I americium eager to bring our expertise and resources to thief standard this unthinkable marque successful nan North American market.” 

Chickapea said nan finance follows a play of “major momentum” for nan brand.  

It has achieved “velocity increases of 25-50% crossed unit channels successful some Canada and nan US this year”, nan group added.  

In 2021, Chickapea announced a Series C information worthy C$9.3m, which besides aimed to support description successful North America.  

The institution graduated from nan District Ventures Capital (DVC) accelerator successful Toronto, pinch DVC starring nan round, which besides included Export Development Canada.

Just Food has asked Chickapea to corroborate really overmuch finance nan institution has now raised to date.